Top 3 Problems of Business Owners (and How to Cure Them)
How to Cure the Top 3 Problems of Business Owners The 3 most common concerns that I hear from business owners are not what you might expect. Self-employed people want to “get their finances in order”. And that can mean a few different things. This could mean more savings, better cash flow, or improving their…
Why Tax Law Offices is Based in Naperville IL (2024)
Why Tax Law Offices is Based in Naperville IL (2024) Over the last 20 years, our tax defense and resolution services have called several Chicagoland areas home. Some may remember when we started on Dearborn Street in downtown Chicago. Others may have become part of the Tax Law Offices circle during our years in Schaumburg….
How to Answer the IRS Letter CP2000
How to Answer the IRS Letter CP2000 With the Letter CP2000, the IRS wants to audit 100% of people who have not reported all income. Using its new tech tools, the government can now choose many more people to be audited. The CP2000 letter is the IRS’s official notice that you are under audit…
Can You Believe This? The Newest on Fake Charities!
Can You Believe This? The Newest on Fake Charities! This post is to help anyone. I want to especially advise our seniors, and friends who may be challenged with speaking English. These matters. There are charity causes created by disease, weather, disaster, and even war that are actively seeking help from the public. And they…
Am I Taxed on the ERC Refund?
Am I Taxed on the ERC Refund? Here are three ways this frequent question about an Employee Retention Credit refund is asked: “Do I have to pay taxes on the ERC refund? “ “Does the amount become added back into my income? “ “Is the government going to tax me on a refund…
Frozen Refund? Options While Awaiting IRS Employee Retention Credit
Frozen Refund? Options While Awaiting IRS Employee Retention Credit Refund Updates: While waiting for your IRS Employee Retention Credit (ERC) refund, it’s important to note that the processing of applications has been halted by the government until the end of 2023 due to a backlog of approximately 600,000 applications. This pause is also a…
IRS Employee Retention Credit Freeze 2023
IRS Employee Retention Credit Freeze 2023 IRS has placed a “moratorium” (or freeze) on the Employee Retention Credit application processing for the remainder of 2023. This means that IRS has frozen handling all new Forms 5884-A submitted for the ERC. Until further notice, this ERC application freeze remains through December 31, 2023. …
Why You Need a Tax Lawyer for Penalty Reduction
Why You Need a Tax Lawyer for Penalty Reduction A potential client once asked us if a tax attorney could help reduce your IRS penalties. The answer is they absolutely can. The IRS assesses taxpayers over $40 million in penalties each year. The most common penalties are for late payment, filing, or tax return…
2023 Best Tax Resolution: $800K Income to $200/ Week Payment
2023 Best Tax Resolution: $800K Income to $200/ Week Payment Tax Law Offices recently had a client who worked as a truck driver. He hadn’t filed tax returns or paid his taxes since 2015, and he was terrified he was going to be sent to prison. Once he hired us, we immediately went…
Tax Law Offices Reduces $100,000 IRS Penalty to $1000
Tax Law Offices Reduces $100,000 IRS Penalty to $1000 Tax Law Offices recently had a client with a six-figure corporate penalty, and we were able to get a fantastic result for them. Keep reading to hear the whole story. This case was actually referred to us by a fellow attorney. He knew our…
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